President Ferdinand R. Marcos Jr. on Wednesday led the presentation of eight new Petroleum Service Contracts (PSCs) aimed at strengthening the Philippines’ energy security, promoting exploration, and attracting foreign investments in petroleum and hydrogen development.
In a ceremony attended by private partners and investors, officials from the Department of Energy (DOE), President Marcos highlighted that the new PSCs will help the country discover new petroleum plays and production fields, thereby reducing dependence on imported oil.
“That is why today’s presentation of eight service contracts is a deliberate step towards securing our energy future,” Marcos said.
“Unlocking over 200 million dollars in investment, these service contracts represent our continued effort to attain greater energy security and therefore economic stability and self-reliance.”
The PSCs cover exploration areas in Palawan, Sulu, Cagayan, Cebu, and Central Luzon—regions identified by the DOE as having significant petroleum and hydrogen potential.
“In the vast waters of Palawan and Sulu Sea, we are exploring offshore oil and gas reserves,” Marcos noted.
“There are also known petroleum resource potentials in the provinces of Cagayan and Cebu. These prospective sources of local fuel can power our homes, generate employment, and boost our industries.”
He added that Central Luzon will serve as the site for the country’s first-ever exploration of native hydrogen gas — a clean, zero-carbon energy source.
“In Central Luzon we are charging new grounds. We are venturing to the exploration of hydrogen, a clean zero-carbon source of energy that holds immense promise for our country and for the world,” he said.
“These are the very first service contracts for the exploration of native hydrogen gas in our history.”
President Marcos emphasized that the projects are part of the administration’s broader push to secure long-term energy independence, attract more international partners, and create new opportunities in the energy sector.
“Sapagkat ang langis ang nagpapagalaw sa ating ekonomiya, mula sa mga sasakyang naghahatid ng pagkain hanggang sa mga pabrikang lumilikha ng kabuhayan,” Marcos said.
“Kapag tumaas ang presyo ng langis, tataas ang pamasahe, ang presyo ng mga bilihin, at halaga ng kuryente. Ginagawa po namin ang lahat upang matigil ito.”
The DOE expects the new PSCs to generate jobs, stimulate local economies, and contribute to the country’s shift toward cleaner and more sustainable energy sources.
